UNTR Completes Acquisition of PSAB’s Doup Gold Mine
Thu 12 Feb 2026, 08:31 AM
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PT J Resources Asia Pasifik Tbk (PSAB) and PT United Tractors Tbk (UNTR) have finalized the acquisition of the Doup gold mine, previously owned by PT Arafura Surya Alam (ASA).
The gold mine was taken over by UNTR’s subsidiary, PT Danusa Tambang Nusantara, from PT J Resources Nusantara (JRN)—a subsidiary of PSAB—for a value of USD 540 million, or approximately IDR 8.85 trillion (based on the JISDOR exchange rate of IDR 16,391 per USD).
"We hereby announce that JRN completed the sale of all shares to PT Danusa Tambang Nusantara on February 11, 2026," PSAB management stated in a public disclosure on Thursday (Feb 12, 2026).
As a result, UNTR, through its subsidiary, officially controls the Doup gold mine with a 99.99% stake in Arafura Surya Alam, equivalent to 2,331,139 shares.
PSAB management explained that the divestment of ASA shares was carried out because the Doup Project in Kotabunan, North Sulawesi, is still in the construction phase and requires significant investment costs for completion.
Furthermore, PSAB is currently managing a substantial amount of debt. Given the high investment requirements and the company’s current loan conditions, the sale of ASA shares became a strategic choice.
The company emphasized that the proceeds from the transaction will be used to strengthen liquidity, reduce the debt burden, and support working capital and the development of other gold mining assets owned by the company.
"With this transaction, the company will focus on developing its other gold mining assets, while remaining open to any new business opportunities," management added.
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